A drone strike triggered a fire at a facility within the Ruwais Industrial Complex in Abu Dhabi on Tuesday.

Abu Dhabi’s government media office said authorities were responding to a fire at the facility after a drone attack, adding there were no injuries. It did not identify the facility.

No injuries were reported, the Abu Dhabi Media Office further said in a post on X.

The complex is the site of Abu Dhabi National Oil Company (ADNOC) facilities that can refine up to 922,000 barrels of oil a day and serves as the central hub for the emirate’s downstream operations, including significant chemical, fertilizer and industrial gas plants.

The attack marks the latest since Tehran launched strikes on several of its neighbours in response to the US-Israeli assault on Iran. The attacks have forced several countries to cut production as shipping in the vital Strait of Hormuz oil transit ​chokepoint, carrying roughly a fifth of global oil flows, has ground to a ‌near ⁠halt.

Abu Dhabi Customs has issued a warning to residents and customers about fraudulent messages circulating through SMS and iMessage that falsely claim to represent the authority or shipping companies.

According to a WAM report, the public is being urged not to interact with such messages or open any links attached to them, as they may contain harmful content designed to steal personal or sensitive information.

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Officials said the scam messages often reference shipments or ask recipients to update delivery details, tactics commonly used to lure people into revealing their data.

Attempts to steal personal data

Authorities explained that some of these messages may appear convincing, sometimes using phone numbers or names that suggest a connection to official entities.

“These messages may include claims about a shipment or requests to update information,” the authority said, warning that fraudsters use such methods to gain access to personal data.

Abu Dhabi Customs stressed that customers should never share personal information with unknown sources and should rely only on official channels to access services and updates.

The authority reaffirmed its commitment to maintaining high cybersecurity standards and protecting customer data while working with relevant authorities to monitor and combat fraud attempts.

Residents are also encouraged to report suspicious messages impersonating Abu Dhabi Customs through official channels to help raise community awareness and curb phishing activities.

Authorities across the UAE have stepped up inspections at markets and retail outlets nationwide as part of efforts to maintain price stability and ensure sufficient supplies of essential goods.

The Ministry of Economy and Tourism said the move comes amid rising demand for key consumer products, with officials closely monitoring market activity to prevent unjustified price increases and ensure that retailers comply with consumer protection regulations.

According to the ministry, specialised inspection teams are carrying out daily monitoring visits across points of sale throughout the country.

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The initiative is being conducted in coordination with economic development departments in all emirates as part of a unified national monitoring team, a WAM report said.

The teams aim to prevent unfair commercial practices and maintain consistent oversight of markets during periods of heightened demand.

“The monitoring and field inspections are conducted daily by specialised inspection teams,” the ministry said, noting that the programme is designed to strengthen market transparency and protect consumers.

Officials emphasised that authorities across the UAE are working closely together to ensure compliance with consumer protection laws, particularly regulations governing the pricing of essential commodities.

Key commodities under price policy

The ministry highlighted that specific price controls apply to nine essential food categories that are considered vital for consumers. These commodities include cooking oil, eggs, dairy products, rice, sugar, poultry, legumes, bread and wheat.

Under the current pricing policy, retailers are not allowed to increase the prices of these items without prior approval from the ministry and a national committee established for this purpose.

Authorities said the policy is designed to shield consumers from unjustified price increases and maintain stability in the retail sector.

Temporary price fluctuations

Officials acknowledged that some price increases have been observed recently in certain food items, particularly onions and tomatoes, over the past two days.

However, the ministry stressed that these fluctuations are temporary and linked to regional developments affecting supply.

“The increases are temporary and limited, resulting naturally from the effects of the regional crisis,” the ministry said.

It added that additional quantities of the affected commodities have already been supplied to the market to ensure stable availability and prevent prolonged price volatility. Authorities also reassured residents that the country maintains a robust strategic reserve of essential goods capable of covering market demand for up to six months.

This reserve is distributed across various regions of the UAE through a carefully structured system designed to maintain supply chain efficiency and enable rapid response to changing market conditions. The ministry noted that this strategic stockpile plays a critical role in ensuring the availability of key commodities and stabilising prices even during emergencies or unexpected disruptions.

Supply chains operating normally

Officials further confirmed that shipping and supply movements are continuing normally through the UAE’s various entry points.

Supply chains remain fully operational, ensuring uninterrupted delivery of goods to retailers and markets across the country.

In addition, the ministry pointed out that the UAE maintains a wide network of international trading partners that supply various imported goods and products. This network allows authorities to quickly identify alternative markets in times of crisis or supply disruption.

Thousands of inspections conducted

Since the beginning of the regional crisis, authorities have significantly increased market surveillance activities.

The Ministry of Economy and Tourism, working alongside local economic development departments, has conducted approximately 7,105 inspection tours nationwide. These inspections led to the detection of 567 violations, most notably cases involving unjustified price increases.

As part of enforcement measures, officials issued 449 warnings to traders, suppliers and retail outlets, while financial penalties totalling AED207,250 were imposed.

Monitoring to continue

Authorities said monitoring campaigns will intensify further in the coming period as regulators continue to safeguard market stability and consumer confidence.

The ministry emphasised that consumers also play an important role in monitoring market practices by reporting violations or price increases through official channels. Consumers can submit complaints through the e-services platform on the Ministry of Economy and Tourism website www.moet.gov.ae or contact the ministry by calling or sending a WhatsApp message to 8001222, or via email at [email protected].

Officials also urged residents to follow responsible consumer habits and avoid panic buying.

The ministry called on shoppers to purchase goods according to their needs and refrain from hoarding or excessive buying, noting that such practices can disrupt market stability and limit product availability for others.

Authorities reiterated that there is no cause for concern regarding the availability of essential goods, adding that supply levels remain strong and prices are expected to stabilise as additional shipments reach the market.

Front-month Brent futures contracts fell below $90 per barrel in mid-morning trading in London after US President Donald Trump said the conflict in the Middle East is “very complete.”

It marks a dramatic downturn after prices reached a four-year high of $119.50 per barrel during trading on March 9, as market participants suggest the “panic premium” has vanished.

The dramatic price moves since the Iran-US conflict have come from speculative and hedging flows rather than physical fundamentals.

While the Strait of Hormuz was effectively closed due to a lack of insurance options, oil prices were moved primarily by negative gamma and declining liquidity across petroleum futures as volatility increased.

An emergency meeting of G7 finance ministers yesterday is being followed by a meeting of energy ministers later today. A release of strategic petroleum reserves is anticipated, which could help alleviate supply shortages from reduced production in the Middle East.

Production cuts by Middle Eastern producers due to drone strikes and storage limits will take a minimum of weeks to return to previous levels.

In a further price-dampening move, the US administration said it will lift sanctions on oil transactions for “some countries.”

Market participants understand this to mean Russian oil, given that the US has already issued a 30-day waiver for India to resume purchases of Russian oil on March 6. Russian oil can avoid the Strait of Hormuz, and there is a large amount of Russian oil-on-water, making a relaxation of sanctions equivalent to a stock release, as it can quickly find buyers in key pricing centres.

Russian President Vladimir Putin said that Russia is increasing exports to “reliable partners.” This means buyers in Asia, as well as Slovakia and Hungary, which have continued to purchase Russian oil despite EU pressure to stop.

Discounts for Russian material versus dated Brent have been narrowing because of demand for non-Gulf oil and the relaxation of sanctions on Russia.

An Iran-linked vessel laden with 2 million barrels of crude oil crossed the Strait of Hormuz, heading toward China.

Two LPG vessels were also seen transiting the Strait from Iran to China, a sign that vessel traffic could continue. Most oil from the Gulf goes to Asia, while almost all Iranian oil goes to Chinese independent refiners.

Markets will look towards any evidence of shipping transiting the Strait of Hormuz, G7 stock releases, weekly US stock data, and the evolution of the conflict in order to determine where prices are headed in the next week.

Given mid-term elections in the US later this year, the administration will want to temper gasoline prices which play an outsized psychological role in US election given its visibility, particularly in a contest that will be defined by affordability concerns.

• Sasha Foss is an Energy Analyst for CSC Commodities, a division of Marex.